The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed a $3.5 billion Memorandum of Understanding (MoU) with the Akwa Ibom State Government and GACN, as part of their efforts to promote gas industrialization and development in the South-South geopolitical zone of the country.
The state-controlled oil company stated on Tuesday that the signing of the pact, which had in attendance Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, and representatives from the governors of Akwa Ibom, Cross River, and Rivers states, was held during the opening session of the South-South Gas Utilisation Forum 2025 in Uyo, Akwa Ibom State.
It stated that the agreement underscored the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity.
The statement reads in part: “NNPC Ltd.’s delegation was led by the Executive Vice President, Upstream, NNPC Limited, Udy Ntia, who also serves as the GACN Board Chairman, and the Executive Vice President, Gas, Power, and New Energy, Mr. Olalekan Ogunleye,” the statement reads.
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“The Managing Director of GACN, Mr. Chijioke Uzoho, and his team convened the forum to rally key stakeholders in the region toward catalysing holistic development through gas industrialisation.
“The opening session culminated in the signing of a $3.5 billion Memorandum of Understanding between NNPC Ltd., GACN, and the Akwa Ibom State Government, signalling the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity”, it added/
In a related statement shared on X, the minister maintained that his attendance at the event was more than official and that “it is personal”.
Ekpo stated: “As an indigene of Akwa Ibom, I am proud to witness this convergence of visionaries committed to gas-powered prosperity,” the statement reads.
While commending the Governor of Akwa Ibom State, Umo Eno, for creating a development-friendly environment in the state, he also thanked GACN for driving the important dialogue.
The Minister enthused: “This is a defining moment for the South-South. We have the gas reserves, the will, and now the platform.
“Our message is clear: Let’s turn gas into jobs, industries, and inclusive growth. Through the Decade of Gas, the LPG penetration programme, the AKK and OB3 pipelines, and the spirit of the PIA, we are building something lasting”, he added.
Ekpo charged all stakeholders involved in the deal to translate ideas into action, stressing that the MoU represented “our chance to lead not just a regional conversation, but a national transformation”.
